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continues its move to adopt the ISO 20022 paymentsmessagingstandard, the Bank of England is reportedly planning to create a panel aimed at streamlining the adoption of the standard for more efficient payments in the country. for the New Payments Architecture (NPA), which will clear and settle all of the U.K.’s
The UKs roadmap to faster, more efficient payments A key area of focus outlined in the National Payments Vision is enabling interoperability between domestic and international systems, supported by the adoption of ISO 20022 messagingstandards while ensuring the security of the UKs payment systems.
. “The Cheque and Credit Clearing Company has developed a tremendous amount of trust in payments through the robust and secure exchange of checks and credits over 30 years, and is now revolutionizing the way checks are cleared through the ICS,” said NPSO Chief Executive Paul Horlock in a statement.
As FinTechs step into the cross-border payments and foreign exchange (FX) management space, there are more solutions available than ever before for corporates seeking to gain speed and security in payments – and manage risk along the way. This embrace comes as corporates are just starting to work with fasterpayments.
Consumers know that payment methods bearing their brand are accepted at tens of millions of merchants globally and that when they use those products, they work reliably. Retailpayments innovators have tapped into that ubiquity-driven certainty to enable new use cases that extend their reach. That creates certainty.
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